Live selling, which involves using live video to sell products, is gaining popularity on social media and reselling platforms. Instagram Live was one of the first platforms used by pioneering resellers for live selling, but now there are dedicated apps like WhatNot that streamline the process.
If you’re wondering if Whatnot is legit and right for your business, it’s worth understanding what it is and how it works. This “Whatnot review” article is for you. It will discuss:
- What is Whatnot?
- Is Whatnot legit?
- Can You Use Whatnot on browser?
- Whatnot Pros and Cons
- How Does Whatnot Work?
Please note, I am not a member or an affiliate for Whatnot. This review has been researched with information and/or testimonials that are available online in the public domain. Any recommendations and/or conclusions are strictly opinions and may not to apply to, or agree with, all persons or situations.
What is Whatnot?
Whatnot is a virtual live auction marketplace accessible from your smartphone that offers a pop-up shop experience. It features about 50 categories that include popular items such as trading cards, clothing, sneakers, and NFTs.
Whatnot is originally created for buying and selling Funko Pops, Whatnot has now expanded into sports slabs, Yu-Gi-Oh cards, and various other categories. Sports cards are the most popular category, but other categories are quickly catching up.
The platform offers a variety of items, including trading card games, fashion, toys, comics & books, video games & movies, NFTs, and other miscellaneous items.
Is Whatnot Legit? | Whatnot Review
Whatnot is a legit marketplace for buying and selling collectibles. Live selling which has been around for years in other parts of the world, is a relatively new industry in the United States.
Shopping on Whatnot differs from other online platforms such as Ebay and Poshmark. On Whatnot, a seller can list an item for a 30-second auction, and due to live stream conditions and lighting, you may not get the best view of the item’s condition.
However, Whatnot verifies its sellers thoroughly by making them go through an intense verification process. The company ensures that the sellers are established on other platforms like Ebay, Instagram, and YouTube before allowing them to sell on Whatnot.
Additionally, sellers undergo a training session with Whatnot on how to best use the platform. If a buyer is not satisfied with the transaction, Whatnot may provide assistance on a case-by-case basis.
What is Live Selling?
Live selling is a popular trend in online reselling where the seller hosts a live video to showcase and describe their items to potential buyers. This type of selling is typically done through auction-style sales, with the excitement of bidding adding to its appeal.
Live-selling platforms charge a fee but offer various benefits such as a way to run auctions digitally, schedule and promote shows in advance, discounted shipping, and some customer service. While traditional online selling may be preferred by those who prefer to stay behind the camera, live sales allow resellers to showcase their personality and become mini-TV stars.
However, the main complaint with live sales is the price point of many items, which tends to be low-profit, high-volume sales. Two types of buyers enjoy live auctions: those looking for rare items willing to pay a premium, and those hoping to snag everyday items for a cheaper cost. What you sell and your chosen business model will determine which type of buyer you cater to.
Can You Use Whatnot Browser
You have the option to purchase items on Whatnot using either a Mac or PC laptop. Although Whatnot is optimized for use on an iPhone or Android device, it is still possible for users to shop on the platform via their desktop.
Whatnot Pros and Cons
- This is the top-rated app for buying and selling among gamers, particularly those interested in pokemon, funk pops, and related items.
- The app hosts live auctions that users can join
- It boasts a large audience of over 4000 teenagers.
- According to reports, the audience for the collectibles is relatively small
- It is mostly targeted towards a few specific teens. As a result, it may take some time for the brand to expand its customer base and become as popular as other toy companies like Lego and Mattel.
How Does Whatnot Work?
Whatnot specializes in live shopping, auctions, and breaks for sports cards. Users can access the app anytime to bid on packs or watch live auctions, but the live portion is only available on mobile devices.
This can be frustrating as it limits the ability to check comps and makes it harder to shop. The online store, which can be accessed on a PC, has over 1,000 listings but prices are typically 15% above comps.
Live shopping is mainly conducted through breaks and auctions where the seller displays the item for sale and viewers bid for a minute. Bidding adds extra time, making the process longer. The app sees more viewers in the afternoon and evening, with early morning breaks attracting fewer viewers resulting in lower sales.
How To Sell On Whatnot?
The process of selling items on Whatnot is comparable to trading on the Facebook marketplace. To sell a specific item, such as a card, you can search for the name of the player and find the corresponding card to sell. You can either add your card to the existing inventory or create a new listing if it’s the only one available. Additionally, you can add an item that’s not yet on the app.
Items with a barcode are simpler to list; by scanning the barcode, the app can automatically populate the name and image of the product, allowing you to set a price and list it quickly.
To host a live selling event, you must submit an application to demonstrate that you will follow the rules. After joining the waitlist and receiving approval, you can begin live selling and promoting your products.